Wednesday, January 4, 2012 Balanced real estate market prevailed through much of 2011VANCOUVER, B.C. – January 4, 2012 – The 2011 Greater Vancouver housing market began with heightened demand in regional hot spots and concluded with greater balance between seller supply and buyer demand.
Wednesday, May 4, 2011 Greater Vancouver housing market sees typical spring activity in AprilVANCOUVER, B.C. – May 3, 2011 – Greater Vancouver saw a typical, solid month of residential home sales on the Multiple Listing Service® (MLS®) in April, in contrast to the near record pace witnessed in the two preceding months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April 2011, an 8.2 per cent decrease compared to the 3,512 sales in April 2010 and a 21 percent decline compared to the 4,080 sales in March 2011.
Looking back further, last month’s residential sales represent an 8.8 percent increase over the 2,963 residential sales in April 2009, relatively unchanged compared to April 2008, and a 4.8 percent decline compared to the 3,387 sales in April 2007.
“While it continues to be a seller’s market in Greater Vancouver, last month’s activity brought greater balance between supply and demand in the overall marketplace,” Rosario Setticasi, REBGV president said. “The year-over-year decline in April sales can be attributed to a less active condominium market on our MLS®, as there were more detached and townhome sales this April compared to last year.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,847 in April 2011. This represents a 23.5 percent decline compared to April 2010 when 7,648 properties were listed for sale on the MLS®, which was an all-time record for April. Compared to March 2011, last month’s new listings total registered a 14 percent decline.
At 14,187, the total number of residential property listings on the MLS® increased 8.2 percent in April compared to last month and declined 10 percent from this time last year.
“There’s considerable variation in activity within the communities in our region. This is causing home price trends to differ depending on the area,” Setticasi said. “Your local REALTOR® is a valuable resource for obtaining the most accurate, up-todate market evaluation.”
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5 percent to $622,991 in April 2011 from $593,419 in April 2010. Sales of detached properties on the MLS® in April 2011 reached 1,402, an increase of 2.3 percent from the 1,370 detached sales recorded in April 2010, and a 17.8 percent increase from the 1,190 units sold in April 2009. The benchmark price for detached properties increased 7.4 percent from April 2010 to $879,039.
Sales of apartment properties reached 1,201 in April 2011, a 21.3 percent decrease compared to the 1,526 sales in April 2010, and an increase of 1.9 percent compared to the 1,179 sales in April 2009. The benchmark price of an apartment property increased 2.9 percent from April 2010 to $409,242.
Attached property sales in April 2011 totalled 622, a 1 percent increase compared to the 616 sales in April 2010, and a 4.7 percent increase from the 594 attached properties sold in April 2009. The benchmark price of an attached unit increased 2.4 percent between April 2010 and 2011 to $514,670.
 Tuesday, April 5, 2011 Home buyers and sellers enter the housing market at near record pace in March
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 4,080 in March 2011. This represents a 31.7 percent increase compared to the 3,097 sales recorded in February 2011, an increase of 30.1 percent compared to the 3,137 sales in March 2010 and an 80.1 percent increase from the 2,265 home sales in March 2009. The all-time sales record for March occurred in 2004 when 4,371 transactions were recorded.
“Our market has had a very strong start to the spring season,” Rosario Setticasi, REBGV president said. “With home sales above 4,000 and nearly 7,000 home listings added to the MLS® in March, it’s clear that home buyers and sellers view this as a good time to be active in their local housing market.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 6,797 in March 2011. This represents a 3 percent decline compared to March 2010 when 7,004 properties were listed for sale on the MLS®, an all-time record for March. Compared to February 2011, last month’s new listings total registered a 19.4 percent increase. At, 13,110, the total number of residential property listings on the MLS® increased 9.9 percent in March compared to last month and declined 3 percent from this time last year.
“Conditions favour sellers at the moment, but we’re seeing differences in home-price trends and overall activity depending on the region and property type,” Setticasi said. The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5.4 percent to $615,810 in March 2011 from $584,435 in March 2010.
Sales of detached properties on the MLS® in March 2011 reached 1,795, an increase of 34.4 percent from the 1,336 detached sales recorded in March 2010, and a 100.1 percent increase from the 897 units sold in March 2009. The benchmark price for detached properties increased 8.3 percent from March 2010 to $866,806.
Sales of apartment properties reached 1,622 in March 2011, a 29.6 percent increase compared to the 1,252 sales in March 2010, and an increase of 66.2 percent compared to the 976 sales in March 2009. The benchmark price of an apartment property increased 2.1 percent from March 2010 to $403,885.
Attached property sales in March 2011 totalled 663, a 20.8 percent increase compared to the 549 sales in March 2010, and a 69.1 percent increase from the 392 attached properties sold in March 2009. The benchmark price of an attached unit increased 3.6 percent between March 2010 and 2011 to $511,039.
 Wednesday, March 2, 2011 REBGV reports increased housing demand in FebruaryVANCOUVER, B.C. – March 2, 2011 – Demand for detached homes continues to be strong across Greater Vancouver, with particularly high sales volumes occurring in Richmond and Vancouver Westside. For the past two months, the number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) in Greater Vancouver outpaced the 10-year average in both categories. From a historical perspective, February’s 3,097 homes sales outpace the 2,742 home-sale average recorded in the region over the last ten years.
“We saw an increase in demand across our region last month as more buyers entered the market in advance of the spring season,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV). “The intensity of this activity varied between communities. Our statistics tell us that single detached homes in Richmond and the west side of Vancouver remain the most sought after properties in our marketplace.” Between November 2010 and February 2011, the MLSLink® Housing Price Index (HPI) benchmark price of a detached home in Richmond increased $190,739 to $1,099,679; in Vancouver West, detached home prices increased $222,185 to $1,850,072. In comparison, detached home prices across the region increased $51,762 between November 2010 and February 2011 to $848,645.
“To effectively analyse real estate statistics for the purpose of buying or selling a home, it’s critical to focus on your neighbourhood of choice because, like we see today, conditions and prices can fluctuate significantly within the same city or municipality,” Moldowan said.
Looking across the region, the REBGV reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,097 on the MLS® in February 2011. This represents a 70.3 percent increase compared to the 1,819 sales recorded in January 2011, an increase of 25.2 percent compared to the 2,473 sales in February 2010 and a 109.3 percent increase from the 1,480 home sales in February 2009. New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,693 in February 2011. This represents a 23.6 percent increase compared to February 2010 when 4,606 properties were listed, and an 18.6 percent increase compared to January 2011 when 4,801 homes were added to the MLS® in Greater Vancouver.
“With a sizeable increase in the number of properties coming onto the market for sale, there’s a good selection out there for buyers to choose from,” Moldowan said.
At, 11,925, the total number of residential property listings on the MLS® increased 14.2 percent in February compared to last month and increased 5 percent from this time last year. Sales of detached properties on the MLS® in February 2011 reached 1,402, an increase of 42.6 percent from the 983 detached sales recorded in February 2010, and a 138.9 percent increase from the 587 units sold in February 2009. The benchmark price for detached properties increased 6 percent from February 2010 to $848,645.
Sales of apartment properties reached 1,206 in February 2011, a 12.3 percent increase compared to the 1,074 sales in February 2010, and an increase of 85.5 percent compared to the 650 sales in February 2009. The benchmark price of an apartment property increased 2.2 percent from February 2010 to $399,397.
Attached property sales in February 2011 totalled 489, a 17.5 percent increase compared to the 416 sales in February 2010, and a 101.2 percent increase from the 243 attached properties sold in February 2009. The benchmark price of an attached unit increased 2.3 percent between February 2010 and 2011 to $507,118.
 Thursday, February 3, 2011 Stability and regional ‘hot spots’ characterize January housing marketVANCOUVER, B.C. – February 2, 2011 – The Greater Vancouver housing market remained in balanced market conditions in January, although higher levels of buyer demand were seen in some of the region’s largest communities. The number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) last month outpaced the 10-year average in both categories for January. “There was a healthy balance between the number of home buyers and sellers in our market in January, but there’s always variation in activity from region to region,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV). "We’re seeing strong sellers’ market conditions in areas like Richmond and the west side of Vancouver.” Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price of detached homes increased 22.6 percent in Richmond and 12.2 percent in Vancouver West. In comparison, detached home prices across the region increased 2.7 percent over the same period.
“When you’re looking to buy or sell a home, it’s important to familiarize yourself with the wider trends in the market. It’s equally important to seek out knowledge of your local area so you understand current market conditions in your neighbour-hood,” Moldowan said Looking across the region, the REBGV reports that residential property sales in Greater Vancouver reached 1,819 on the MLS® in January 2011. This represents a 4.2 percent decline compared to the 1,899 sales recorded in December 2010, a decrease of 5.4 percent compared to the 1,923 sales in January 2010 and a 138.7 percent increase from the 762 home sales in January 2009.
From a historical perspective, January’s 1,819 homes sales slightly surpassed the 1,790 home sale average recorded in the region over the last ten years.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,801 in January 2011. This represents a 6.7 percent decrease compared to January 2010 when 5,147 properties were listed, and a 182 percent increase compared to December 2010 when 1,699 homes were added to the MLS® in Greater Vancouver. At 10,438, the total number of residential property listings on the MLS® increased 5.8 percent in January compared to last month and increased 2.2 percent from this time last year.
Sales of detached properties on the MLS® in January 2011 reached 793, an increase of 12.5 percent from the 705 detached sales recorded in January 2010, and a 171.6 percent increase from the 292 units sold in January 2009. The benchmark price for detached properties increased 2.7 percent from January 2010 to $810,045.
Sales of apartment properties reached 713 in January 2011, a decline of 20.8 percent compared to the 891 sales in Janu-ary 2010, and an increase of 97.5 percent compared to the 361 sales in January 2009.The benchmark price of an apartment property increased 1.4 percent from January 2010 to $390,935. Attached property sales in January 2011 totalled 313, a decline of 4.3 percent compared to the 327 sales in January 2010, and a 187.2 percent increase from the 109 attached properties sold in January 2009. The benchmark price of an attached unit increased 2.6 percent between January 2010 and 2011 to $495,140.
 Wednesday, January 5, 2011 Real estate market stable at year-endVANCOUVER, B.C. – January 5, 2011 – The Greater Vancouver residential housing market entered three distinctive phases in 2010. Continued buoyancy from the post-recession recovery began the year, followed by a summer lull and, throughout the fall, a sustained period of stability. The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2010 reached 30,595, a 14.2 percent decrease from the 35,669 sales recorded in 2009, but a 24.2 percent increase from the 24,626 residential sales in 2008. Last year’s number of housing sales was 10.3 percent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.
The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 9.7 percent in 2010 to 58,009 compared to the 52,869 properties listed in 2009. Compared to 2008, last year’s total represents a 7.3 percent decline compared to the 62,561 residential properties listed in 2008. The number of properties added to the MLS® peaked in April and generally declined for the remainder of the year.
“The last two years have been a bit of a rollercoaster for the real estate market. However, sales over the past six months have definitely shown a trend toward stability. We think that’s good news for home buyers and sellers,” Jake Moldowan, REBGV president said. “The Greater Vancouver housing market experienced a modest increase in home prices in 2010, and a continual decrease in the number of properties being listed for sale.” Residential property sales in Greater Vancouver totalled 1,899 in December 2010, a decrease of 24.5 percent from the 2,515 sales recorded in December 2009—an all time record for the month—and a 24.3 percent decline compared to November 2010 when 2,509 home sales occurred.
More broadly, last month’s residential sales represent a 105.5 percent increase over the 924 residential sales in December 2008, a 0.1 percent increase compared to December 2007’s 1,897 sales, and a 12.6 percent increase compared to the 1,686 sales in December 2006.
The residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver increased 2.7 percent to $577,808 between Decembers 2009 and 2010. However, prices have decreased 2.6 percent since hitting a peak of $593,419 in April 2010. “Although we saw some pressure on home prices throughout the year, home values in 2010 remained relatively steady in the region compared to the last few years when we witnessed much more fluctuation,” Moldowan said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,699 in December 2010. This represents a 21.1 percent decline compared to the 2,153 units listed in December 2009 and a 43.9 percent decline compared to November 2010 when 3,030 properties were listed. Sales of detached properties in December 2010 reached 769, a decrease of 14.8 percent from the 902 detached sales recorded in December 2009, and a 121.1 percent increase from the 348 units sold in December 2008. The benchmark price for detached properties increased 4.0 percent from December 2009 to $797,868.
Sales of apartment properties reached 811 in December 2010, a decline of 29.7 percent compared to the 1,154 sales in December 2009, and an increase of 94.5 percent compared to the 417 sales in December 2008.The benchmark price of an apartment property increased 1.2 percent from December 2009 to $387,115.
Attached property sales in December 2010 totalled 319, a decline of 30.5 percent compared to the 459 sales in December 2009, and a 100.6 percent increase from the 159 attached properties sold in December 2008. The benchmark price of an attached unit increased 2.7 percent between December 2009 and 2010 to $490,869.
 Friday, December 3, 2010 MLS® stats show more sales, fewer property listings in NovemberVANCOUVER, B.C. – December 2, 2010 – Greater Vancouver residential home sales improved in November compared to the previous four months, with the number of sales posted on the Multiple Listing Service® (MLS®) coming in slightly higher than the 10-year average for that month.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,509 in November 2010. This represents a 7.4 percent increase compared to October 2010 and an 18.6 percent decline from the 3,083 sales in November 2009.
Looking back further, last month’s residential sales represent a 187.1 percent increase over the 874 residential sales in November 2008, a 13 percent decline compared to November 2007’s 2,883 sales, and a 6.4 percent increase compared to the 2,358 sales in November 2006.
“Housing sales numbers were fairly typical for a November and indicate a fairly balanced market. Activity on the buyer side has been stable, with slight increases, over the last few months while the number of homes listed for sale in our region has declined each month since we reached a peak in June,” Jake Moldowan, REBGV president said.
Total active residential property listings in Greater Vancouver currently sit at 12,384, a 12.1 percent decline from last month and a 12 percent increase from November 2009. New listings for detached, attached and apartment properties declined 17.1 percent to 3,030 in November 2010 compared to November 2009 when 3,653 new units were listed.
“Home values have been relatively stable over the last five months compared to the summer period when we were seeing some downward pressure on prices,” Moldowan said. “It’s the homes priced accurately for today’s market that are receiving a lot of attention and selling right now.”
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 4.1 percent to $580,080 in November 2010 from $557,384 in November 2009. This price has remained virtually unchanged since June of this year.
Sales of detached properties on the MLS® in November 2010 reached 1,050, a decrease of 9.8 percent from the 1,164 detached sales recorded in November 2009, and a 226.1 percent increase from the 322 units sold in November 2008. The benchmark price for detached properties increased 5.6 percent from November 2009 to $799,312.
Sales of apartment properties reached 1,052 in November 2010, a decline of 24.6 percent compared to the 1,396 sales in November 2009, and an increase of 156.6 percent compared to the 410 sales in November 2008.The benchmark price of an apartment property increased 1.9 percent from November 2009 to $389,168.
Attached property sales in November 2010 totalled 407, a decline of 22.2 percent compared to the 523 sales in November 2009, and a 186.6 percent increase from the 142 attached properties sold in November 2008. The benchmark price of an attached unit increased 4.1 percent between November 2009 and 2010 to $488,733.
Wednesday, October 27, 2010 Housing market factors indicate stability in recent monthsVANCOUVER, B.C. – October 4, 2010 – September home sales in Greater Vancouver were consistent with activity experienced in the preceding two months across most categories.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,220 in September 2010. This represents a 0.8 percent increase compared to August 2010 and 37.6 percent decline from the 3,559 sales in September 2009.
In comparison, last month’s residential sales represent a 40.1 percent increase over the 1,585 residential sales in September 2008, a 20 percent decline compared to September 2007’s 2,776 sales, and an 11.9 percent decline compared to September 2006’s 2,519 sales.
“We’ve seen fewer properties coming on to the market over the last three months. This trend, combined with the continued attraction of low interest rates, is likely having the effect of less downward pressure on home prices,” Jake Moldowan, REBGV president said.
Since spring, housing prices in the region have trended slightly downward, with a decrease of 2.7 percent compared to the all-time high reached in April when the MLSLink® Housing Price Index (HPI) residential benchmark price was $593,419. The overall benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5.5 percent to $577,174 in September 2010 from $547,092 in September 2009. The current price remains consistent with last month, rising just 0.1 percent between August and September 2010.
Total active property listings posted on the Multiple Listing Service® (MLS®) in Greater Vancouver currently sit at 15,401, basically unchanged compared to last month and a 22 percent increase from September 2009. Over the last three months, active listings in the region have declined 12.3 percent. New residential property listings posted in September declined 17.6 percent to 4,731 compared to September 2009 when 5,746 new units were listed.
“We saw signs of more stability in our marketplace last month than we have seen since spring based on a variety of indicators that we look at each month,” Moldowan said. “At 56 days, it took, on average, three days less to sell a home in our region compared to August. This is the first month-over-month decline we’ve seen in this category since April.”
Sales of detached properties in September 2010 reached 866, a decrease of 39.1 percent from the 1,423 detached sales recorded in September 2009, and a 58.6 percent increase from the 546 units sold in September 2008. The benchmark price for detached properties increased 6.7 percent from September 2009 to $790,992.
Sales of apartment properties reached 971 in September 2010, a decline of 34.7 percent compared to the 1,489 sales in September 2009, and an increase of 27.1 percent compared to the 764 sales in September 2008.The benchmark price of an apartment property increased 3.7 percent from September 2009 to $388,373.
Attached property sales in September 2010 totalled 383, a decline of 40.1 percent compared to the 647 sales in September 2009, and a 39.3 percent increase from the 275 attached properties sold in September 2008. The benchmark price of an attached unit increased 5.2 percent between September 2009 and 2010 to $490,385.
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